SA businesses optimistic of opportunities in Peru
Business people forming part of the Department of Trade and Industry (dti)’s outward trade and investment mission (OTIM) to Peru are optimistic that
they will find new markets for their products and services.
The delegation comprising 18 business people will be in Lima from 24 to 29 May.
According to the Minister of Trade and Industry, Rob Davies, the objective of the OTIM is to create a platform for South African value-added products and services to enter the Latin American market, and encourage investments and joint ventures between the South African and Peruvian companies.
“The mission to Peru will provide the South African companies with an opportunity to penetrate the Latin American market which is not only about Brazil but more about the Pacific Alliance, a trade bloc that includes Chile, Colombia, Peru and Mexico. The bloc offers greater export and investment opportunities,” said Minister Davies.
Bilateral trade between South Africa and Peru totalled almost R600 million last year. It is heavily skewed in favour of SA which exported products worth more than R400 million to Peru.
According to the World Bank, Peru is one of Latin America’s fastest growing economies and is expected to remain as such in the medium term.